Is the bitcoin real money?

In this interview Dr Ron Paul talks to Jan Skoyles about gold, bitcoin and the monetary system. Dr. Paul is a former U.S. Congressman and presidential candidate. He is highly regarded in the world of Austrian economics and discussions surrounding sound money and the monetary system.

The interview is an interesting collaboration between two commentators who have been through totally different experiences in the monetary system and yet reach similar conclusions as to the issues it faces. Whilst they perhaps disagree on the solution and on new developments such as bitcoin, the discussion provides a useful insight into the challenges facing the monetary system and for those trying to find a solution.

Main topics discussed:

Is bitcoin money?

The future of the US dollar

Should gold and bitcoin compete?

The role of China in the gold market

Austrian economics and what it can offer the current system

One key message from the interview between Dr Ron Paul and Jan Skoyles is the importance of gold investment. Both commentators believe gold bullion and gold coins act as an insurance, in the same way you would own home insurance, Ron and Jan believe you should buy gold to insure against debasement and other monetary issues.